COTI price prediction: will it continue to scale in 2022?
Coti can process 10,000 transactions per second but can it reel in the demand?
It has been an action-packed year for Coti with the payment service’s native cryptocurrency, COTI, reaching a new all-time high last month. Will the bullish trend continue?
Coti was founded in 2017 to be a decentralised alternative to payment services such as PayPal or Visa. The network’s decentralised nature escaped the limitations of traditional finance. Its move away from a normal blockchain allowed it to become a scalable solution. Unlike a blockchain, which is a chronological list of transactions, Coti uses a directed acyclic graph (DAG) protocol that resembles a tree with transactions branching out. This allows it to process 10,000 transactions a second; higher than most cryptocurrencies and even Visa.
Since launching its staking platform in 2019, Israel-headquartered Coti has revealed many different features in its attempt to be the go-to payment service for businesses and merchants. It has even launched a platform for businesses to create their own stablecoins linked to an asset of their choice. But does Coti have what it takes to keep up the momentum into 2022?
Coti launched its mainnet and native cryptocurrency on 4 June 2019. After launching, COTI’s price began to plummet from $0.088 on 5 June to $0.069 on 26 June. This turned into a bearish trend that plagued COTI’s price for the next eight months.
In August 2019, the Coti network released its Universal Payment Solution, a platform allowing businesses to accept the decentralised payments. The low fees, instant payments and multiple currency options made a compelling sell for merchants to use the new service. Despite the new platform, the price of COTI continued to fall and by the end of the month it had dropped to $0.027.
This bearish trend continued throughout the next months until 9 November when it reached its all-time low of $0.006. The COTI price picked up slightly in late November as Coti formed a partnership with Cardano to release a payment platform. ADA Pay is a platform for businesses to accept payments in Cardano’s native cryptocurrency, ADA. It has near-instant settlement that can be converted into 35 fiat currencies.
By the end of November, COTI had surpassed the $0.006 mark. However, it really started gaining momentum at the beginning of 2020. The coin began a bullish trend on the 7 February, reaching a peak of $0.03 on 24 February. This was in anticipation for Binance listing COTI on 26 February.
The price rallied into the following month as Coti released a multi-DAG protocol, which allowed it to issue branded stablecoins to businesses. This made the network one of the first platforms designed for creating stablecoins. The COTI price spiked slightly higher than last time, peaking at $0.035 on 6 March.
The momentum halted for the next months, but it was not long before COTI rallied again. For the first time since July 2019, the coin reached above its launch price. This spike came after Coti launched the ERC-20 version of the token on Uniswap. By 30 August, the price had reached $0.089.
COTI’s momentum subsequently faded and did not come anywhere close to this price for the rest of 2020.
New year, new price record 2021 (and 2022)
The beginning of 2021 told a different story, however. February 2021 saw the start of a bullish trend that COTI would sustain up until today. February was an active month for the currency as its parent announced multiple partnerships, such as SushiSwap listing an ETH/COTI pair on 26 February.
The network continued to generate headlines into March as it reached new highs. Coti launched the 3.0 edition of its staking feature. Stakers were distributed into five different classes depending on the amount of COTI staked. More than 1,300 took part, with transactions approved on a first-come, first-served basis.
The payment platform had even bigger news that month as it announced Apple Pay users could buy COTI through Simplex, a financial cryptocurrency institution. This was huge news for Coti, as Apple Pay is used by millions, opening its market up to the 45% of Americans who own an iPhone. On 30 March, COTI reached a new price record of $0.50.
COTI saw less action in its price over the next few months, dropping below the $0.20 mark. But it did spike again following its Coinbase listing on 26 August, when COTI reached $0.47.
This rally continued into September with the price setting an even higher record. Coti announced on 29 September that it was producing its own bank cards. These crypto-friendly VISA cards allow users to spend money online and in-store. The day after the announcement, COTI coin reached a new high of $0.65.
The price surged again a month later on 31 October, when it hit its current all-time high of $0.68.
The platform has since launched a mainnet upgrade that has contributed to a “better, faster and more reliable digital platform”, according to Coti. It has also revealed a treasury is in the works, which will be a decentralised pool of COTI where users will be rewarded for depositing the coin. Despite the news, the COTI price has fallen this month and as of 30 November its price is $0.48.
After a difficult December for crypto in general, some January 2022 investors are poised for either a massive rush this year, or an equally rapid decline in market activity. Major blows to bitcoin, such as Khazakhstan’s internet blackout; Omicron causing market uncertainty; and regulation being brought in by international bodies have all had a detrimental effect on the wider crypto markets.
As of 7 January 2022, COTI as valued at $0.34. So, what is next for the coin?
COTI price prediction
There is a consensus amongst analysts for the COTI price prediction that the coin is in for a bullish trend in the long run.
WalletInvestor’s COTI coin price prediction says it is an “awesome” investment. It predicts COTI will reach $0.71 by the end of 2022. WalletInvestor’s COTI price prediction in 2025 is for the coin to reach $1.70. In five years, the coin is expected to reach $2.04.
GOV Capital predicts the price will increase towards the end of 2022, hitting the $0.90 mark. Its COTI price prediction for 2025 is more optimistic than WalletInvestor’s, forecasting it to reach $4.00.
The forecast service PricePrediction is far more reserved. Its COTI price prediction says it will reach $1.78 in 2025, and the coin should be worth $12.21 by the end 2030.
It might be. COTI recently reached an all-time high of $0.68 on 31 October. November had also been an active month for COTI as it upgraded its mainnet and revealed plans for a treasury, however it is important to perform your own thorough research. The market is highly volatile and past performance is not a reliable indicator for future investments.
It might. The general COTI price prediction consensus from price forecasters is for the coin to keep growing over the next decade. WalletInvestor forecasts it to reach $1.70 by 2025, whereas GOV Capital suggests the value could be $4.00 by then. Remember, predictions are not always right, so you should never invest more than you can afford to lose.
It depends. Coti’s goal is to be the go-to payment service for businesses and merchants. Coti had an active 2021 with plenty of upgrades and partnerships. But it is not guaranteed to continue. Investors should always do their own research before getting involved in a project.